The company signed a 10-year supply contract with a Bakrie Group affiliate for 180,000 tons annually to support industrial explosives production in Kalimantan.
TKG Huchemis, a specialty chemicals company founded by Chairman Park Yeon-cha after he acquired the precision chemicals division spun off from Namhae Chemical at the Yeosu industrial complex, will export nitric acid to Indonesia.
The company signed a long-term nitric acid supply contract worth about 337.8 billion won ($248 million) with BKP, an affiliate of Indonesia's Bakrie Group.
BKP is building a factory in the Kalimantan region capable of producing 180,000 tons of ammonium nitrate annually. Ammonium nitrate is a key raw material for industrial explosives used in mining and civil engineering projects.
"This contract secures stable sales of 337.8 billion won over the next 10 years," a company official said.
parkds@heraldcorp.com
